Cloud Computing in Banks

Cloud Computing in BanksCloud Computing is the use of computer resources, both hardware and software, that are delivered as a service over a network. The name is derived from the symbol which is an abstraction for the complex infrastructure it contains in system diagrams. It is the delivery of computing as a service rather than as a product, and it is done so in real time using grid of inter-connected computers. It entrusts remote services with a user’s data, software and computation. Users pay for the amount of service they use in a pay-as-you-go model, just like you pay for electricity or water. Various types of services are provided in cloud computing such as Infrastructure-as-a-service, Software-as-a-service, Networkas- a-service, Storage-as-a-service, Data-as-a-service, Platform-as-a-service. Banks can use lot of these services, especially, Infrastructure-as-a-service, Network-as-a-service, Storage-as-service and Data-as-a-service. Critical to the banks is the speed to launch new products, promotions and services in the market. The cloud enables a bank to increase capacity, without necessarily having to invest in additional infrastructure, while cutting down the time and effort in purchasing such infrastructure and effect expenditure transition from capital to operational. Banks can reallocate IT operations costs away from hardware/software spending and also personnel expenses, towards meeting other IT goals. Also with applications hosted centrally, updates can be released without the need for users to install new software.

Security is a key concern among potential users and the cloud model is evolving accordingly. Once the security concern gets addressed it will play a key role in banking sector.

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...Abstract
The concept of CloudComputing has been around for several years and has emerged as a new field in Computer Science. It provides a means for businesses and companies to increase their Information Technology (IT) capabilities and resources without investing in new infrastructure, training or licensed software. CloudComputing has revolutionized the way companies conduct and manage operations delivering host based services such as Platform services, Infrastructure services and Software services over the Internet. It is called CloudComputing because “the data and applications exist on a cloud of web servers” (unknown, 2009). Major concerns with the implementation of cloudcomputing are associated with privacy and security. Businesses and Companies are wary about trusting their essential data with another company and concerned about client privacy being compromised. This purpose of this paper is to discuss in detail what is cloudcomputing, the services offered, security concerns and mitigation strategies along with the legal and political issues associated with the integration and implementation of CloudComputing; educating and informing others, ultimately easing their mind about the use of CloudComputing.
Introduction
Cloud...

...CUMULUX
WHAT IS CLOUDCOMPUTING?
What does it mean to Enterprises? | Ranjith Ramakrishnan
CUMULUX: CloudComputing Discovery Series
What is CloudComputing?
What does it mean to Enterprises?
Table of Contents
What is CloudComputing?.............................................................................................. 1 What technologies constitute cloudcomputing? ............................................................ 2 Who are the key Cloud Platform Providers? ................................................................... 3 Does this mean the end of IT departments in Enterprises? ........................................... 3 What is a Cloud Maturity Model? ................................................................................... 4 Is CloudComputing Enterprise Ready? .......................................................................... 4 About CUMULUX ............................................................................................................ 5
What is CloudComputing?
cloudcomputing \noun;
style of computing where massively scalable IT-related capabilities are provided “as a service” using Internet technologies to multiple customers...

...days "cloudcomputing" is the buzzword used to describe the direction in which information network infrastructure seems to be leaning towards. The authors reasoned that cloudcomputing sprouted from grid computing, distributed computing, and parallel computing, which resonated with the works of Foster, Zhao, Raicu, & Lu, 2008 [1].
And like many, they found it a challenge to provide an encompassing definition for cloudcomputing. Foster et al. defined cloudcomputing as, “A large-scale distributed computing paradigm that is driven by economies of scale, in which a pool of abstracted, virtualized, dynamically-scalable, managed computing power, storage, platforms, and services are delivered on demand to external customers over the Internet”; while SYS-CON Media Inc., 2008 [2] provided a list of definition from twenty one subject matter experts. Nevertheless, there was a general consensus [1][2][3] that cloudcomputing could be characterized by its very large scale, virtualization, versatility, scalability, on-demand, high performance, and low storage and usage costs.
In addition, the authors contended that there exists an agreement on the basic types (or styles) of cloudcomputing. Though they had listed a total of seven types, when...

...White Paper CloudComputing.
Alternative sourcing strategy for business ICT.
Contents.
3
1. Abstract.
4 4 5
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7 7 11 12
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14 14 14 15
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4.1 CloudComputing in business startups. 4.2 CloudComputing in companies with existing infrastructure. 4.3 CloudComputing with business-critical applications.
17 19 20 22 23
5. Dynamic Services – a top-quality CloudComputing service. 6. Summary. 7. Glossary. 8. List of figures. 9. List of sources.
1. Abstract.
The term "CloudComputing" has been mentioned for just under two years in relation to services or infrastructural resources, which can be contracted over a network. Thus, the idea of renting instead of buying IT is nothing new. And so, CloudComputing has many antecedents and equally as many attempts to define it. The players in the large world of clouds are Software as a Service providers, outsourcing and hosting...

...Cloudcomputing
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Cloudcomputing logical diagram
Cloudcomputing is the use of computing resources (hardware and software) that are delivered as a service over a network (typically the Internet). The name comes from the use of acloud-shaped symbol as an abstraction for the complex infrastructure it contains in system diagrams. Cloudcomputing entrusts remote services with a user's data, software and computation.
There are many types of public cloudcomputing:[1]
* Infrastructure as a service (IaaS)
* Platform as a service (PaaS)
* Software as a service (SaaS)
* Network as a service (NaaS)
* Storage as a service (STaaS)
* Security as a service (SECaaS)
* Data as a service (DaaS)
* Desktop as a service (DaaS - see above)
* Database as a service (DBaaS)
* Test environment as a service (TEaaS)
* API as a service (APIaaS)
* Backend as a service (BaaS)
* Integrated development environment as a service (IDEaaS)
In the business model using software as a service, users are provided access to application software and databases. The cloud providers manage the infrastructure and platforms on which the applications run. SaaS is sometimes referred to as “on-demand software” and is usually priced on...

...
Something we should know about CloudComputing
In this paper, I will Introduce the cloudcomputing. Including the technology of cloudcomputing; the characteristics that cloudcomputing have. Also I will mention the service models and deployment models. At the end, the advantage and disadvantage of cloudcomputing will be discussed.
Commonly, people understand “cloudcomputing” these two words as in the following sentence. “Continuously evolving, and the terminology and concepts used to define it often need clarifying” (Dialogic Corporation, 2010). As I researched, Cloudcomputing is also a service. “Cloudcomputing is the latest effort in delivering computing resources as a service. It represents a shift away from computing as a product that is purchased, to computing as a service that is delivered to consumers over the internet from large-scale data centers – or “clouds”.”(Sriram & Hosseini, 2010) Many people might don’t understand the meaning of term “cloud”. Here I found a sentence which perfectly describes the meaning of term “cloud”. “The term “cloud”, as used in this white paper, appears to have its origins in network diagrams that...